Heat Pump Market to Grow USD 11760 Million by 2028 at a CAGR of 5.4% | Valuates Reports

BANGALORE, India, Oct. 3, 2022 /PRNewswire/ -- The Global Heat Pump Market is Segmented by Type (Parallel Hybrid, Electric, Turboshaft and Turboelectric), by Application (Multicopter, Quadcopter): Global Opportunity Analysis and Industry Forecast, 2021-2028.  It is published in Valuates Reports under the Energy & Utilities Category.

Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Heat Pumps market is projected to reach USD 11760 Million by 2028 from an estimated USD 8577.8 Million in 2022, at a CAGR of 5.4% during 2023 and 2028.

Major factors driving the growth of the Heat Pumps market are:

The heat pump market is expanding as a result of favorable government regulations and incentives to improve energy efficiency. Increased demand for energy-efficient and economical space heating and cooling applications in residential and commercial housing is anticipated to fuel heat pump market expansion.

The government's initiatives, including tax breaks for individuals and businesses as well as clean heating and cooling programs, are anticipated to have a favorable impact on the heat pump market expansion.

Additionally, heat pumps are far safer than combustion-based systems. Heat pumps have an effective rate of converting energy to heat while reducing carbon emissions. Compared to combustion-based heating systems, heat pumps require less maintenance. The expansion of the heat pump market is anticipated to be fueled by all these benefits.

Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Auto-16O4360/Global_Heat_Pump 

Inquire for Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Auto-16O4360/Global_Heat_Pump 

TRENDS INFLUENCING THE GROWTH OF THE HEAT PUMP MARKET:

The residential heat pump market is anticipated to develop as a result of rising heat pump usage. For all climates, heat pumps provide an effective replacement for furnaces and air conditioners. Heat pumps use cleaner electricity and are substantially more efficient than conventional boilers, lowering the carbon footprint of the home. Additionally, switching to a heat pump helps prevent erratic gas and oil prices. A heat pump extracts heat from the earth or the air at a low temperature, raises it to a higher temperature, and then transports it into a building to produce heating and hot water.

The desire by governments to enact tax breaks is anticipated to fuel the demand for heat pumps even further. For instance, the UK has declared that heat pump installation is exempt from paying VAT. The cost of installation was recently significantly decreased by the UK government's announcement of 0% VAT on the installation of heat pumps and biomass boilers for a period of five years.

Compared to heating systems that use combustion, heat pumps require less upkeep. Compared to combustion-based heating systems, heat pumps are safer. They are safe to use, and because they use electricity instead of fuel to produce heat, they pose fewer safety risks than similar appliances. These factors are expected to further fuel the Heat pump market growth during the forecast period.

Heat pumps powered by the Internet of Things (IoT) allow for component real-time monitoring, proactive maintenance, and remote diagnosis. Smart thermostats that help monitor environmental changes and connect with their water heater equipment are part of the Internet of Things (IoT)-based heat pumps. Heat pumps are being adopted by end customers from various industries more frequently. Their structures and methods of functioning, however, have not changed. The development of next-generation heat pumps has placed a high priority on automation and remote control. These elements are anticipated to increase demand for heat pumps and produce profitable opportunities for market participants.

Browse The Table Of Contents And List Of Figures At: https://reports.valuates.com/market-reports/QYRE-Auto-16O4360/global-heat-pumps 

HEAT PUMP MARKET SHARE

With a combined market share of around 40%, China has the largest market, followed by Europe and Japan.

Global Heat Pumps' key players include Daikin, Mitsubishi, Atlantic, NIBE Industrier, Hitachi, etc. Global top five players hold a share of about 45%.

Get Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-16O4360/Global_Heat_Pumps 

Key Companies:

• Daikin
• Mitsubishi
• Atlantic
• NIBE Industrier
• Hitachi
• Bosch
• Panasonic
• Aermec
• STIEBEL ELTRON
• CIAT
• Fujitsu
• Vaillant
• Danfoss Group
• Carrier
• Rheem
• Johnson Controls
• Calorex
• Kensa
• Maritime Geothermal
• Thermia
• ClimateMaster
• Bryant
• Midea
• GREE Electric
• Sirac
• Anywhere
• Fuerda
• Tongyi Electrical
• AMITIME
• Zhengxu.

Buy Now for Single User + Covid-19 Impact : 

https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-16O4360&lic=single-user 

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS:

-  Due to the COVID-19 pandemic, the global Industrial Heat Pumps market size is estimated to be worth USD 573.5 Million in 2021 and is forecast to a readjusted size of USD 573.5 Million by 2028 with a CAGR of 7.6% during the review period.

-  Due to the COVID-19 pandemic, the global Geothermal Heat Pump market size is estimated to be worth USD 4480.2 Million in 2021 and is forecast to a readjusted size of USD 4480.2 Million by 2028 with a CAGR of 9.6% during the review period.

-  In 2020, the global CO2 Heat Pump Hot Water Supply Systems market size was USD 1970.7 Million and it is expected to reach USD 3269.5 Million by the end of 2027, with a CAGR of 7.5% during 2021-2027.

-  Global Solid-State Heat Pump Market Research Report 2022

-  Global Water-to-Water Heat Pump Market Research Report 2022

-  Global Variable Capacity Heat Pump Market Research Report 2022

-  Global High Temperature Industrial Heat Pump Sales Market Report 2022

-  Global and United States Heat Pump Swimming Pool Heater Market Report & Forecast 2022-2028

-  Global and United States Commercial Heat Pump Water Heater Market Report & Forecast 2022-2028

-  Global Air Source Heat Pump Sales Market Report 2022

-  Global Air-Water Monobloc Heat Pumps Market Research Report 2022

-  Global Air to Water Split Heat Pumps Market Research Report 2022

-  Global Residential Heat Pump Market Insights, Forecast to 2028

-  Global Single Stage Heat Pump Market Research Report 2022

-  Global Ductless Mini Split Heat Pump Market Research Report 2022

-  Global Two Stage Heat Pump Market Research Report 2022

-  In 2020, the global District Heating and Cooling market size was USD 186770 million and it is expected to reach USD 365480 million by the end of 2027, with a CAGR of 10.1% during the forecast period 2021-2027.

-  Due to the COVID-19 pandemic, the global Heat Exchanger market size is estimated to be worth USD 16140 Million in 2022 and is forecast to a readjusted size of USD 22630 Million by 2028 with a CAGR of 5.8% during the review period.

-  Due to the COVID-19 pandemic, the global Waste Heat to Power market size is estimated to be worth USD 2407.1 million in 2022 and is forecast to be a readjusted size of USD 3207.4 million by 2028 with a CAGR of 4.9% during the forecast period.

-  The global Electric Heat Tracing market size is projected to reach USD 3256.6 Million by 2028, from USD 2703.4 Million in 2021, at a CAGR of 2.7% during 2022-2028.

-  The HVAC pumps market size was valued at USD 31,560.5 million in 2021, and is projected to reach USD 55,457.0 million by 2031, registering a CAGR of 5.7% from 2022 to 2031.

Click here to see related reports on Heat Pump Market

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

CONTACT US:

Valuates Reports
sales@valuates.com 
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg